General
kvi
What does kvi mean?
A KVI (Known Value Item) is the small set of products customers know the price of off the top of their head — milk, eggs, bananas, Coke, bread. Retailers price these aggressively, even at a loss, because shoppers use them as a yardstick for whether the whole store is 'cheap' or 'expensive'. Mess up the KVI price and the perception of every other tag in the building takes a hit.
"We can't move milk above $3.49 — it's the biggest KVI in the basket and customers will walk the whole store on the strength of that one tag."
Frequently asked questions
What does KVI mean in retail?
KVI stands for Known Value Item — a staple product whose price shoppers actually have memorised.
How do you use KVI in a sentence?
For example: "We keep milk priced sharp because it's a KVI everyone checks."
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